When Warren Buffett invests in a business, the market generally views it as a huge vote of support for that business. Occidental Petroleum (NYSE: OXY) can vouch for that claim following Berkshire Hathaway's investment in its stock. The Oracle of Omaha also provided pivotal support for the energy company's acquisition of Anadarko Petroleum, which it bought out from under Chevron (NYSE: CVX).

Before you run out and buy Occidental as well just because Buffett (through Berkshire) owns it, though, you need to take a deeper look at what has happened to Occidental since the Anadarko deal.

Chevron announced it would be buying Anadarko Petroleum in April 2019. Shortly thereafter, Occidental announced it was making a counteroffer, attempting to buy Anadarko away from Chevron. Buffett was in the mix at this point, helping to fund Occidental's offer. There was a short period of uncertainty in which it was unclear who would end up buying Anadarko and at what price, but in the end, Chevron decided to step away.

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Source Fool.com